T&B dismisses North American management
Tibbett & Britten, the UK-based contract logistics provider, has made significant changes to its North American management team. Operational problems which the company experienced in the region prompted a cautionary trading statement in November and this was a major factor in the management shake up. Mike Sprague, who headed up the business unit has been dismissed along with the VP for Business Development and the CFO.
In its last trading statement, management warned that profits would be £5m (€7.3m) less than had been forecast. This was largely as a result of costs incurred from a project in Mexico to rationalise eight warehouses into one, as well as delays with the implementation of a new freight management system.
Mr Sprague has been in charge of Tibbett & Britten in North America since 1995 and is credited with developing the company into one of the market leaders, almost entirely through organic growth. He will reportedly receive a pay off of around £400,000 (€572,000). The company is now searching for his replacement, both internally and externally.
